Battery Cooling Plate Market Forecasts to 2030 – Global Analysis By Cooling Method (Air Cooling, Liquid Cooling, Phase Change Material (PCM) Cooling and Immersion Cooling), Material Type (Aluminum, Copper, Graphite, Composite Materials and Other Materials

Battery Cooling Plate Market Forecasts to 2030 – Global Analysis By Cooling Method (Air Cooling, Liquid Cooling, Phase Change Material (PCM) Cooling and Immersion Cooling), Material Type (Aluminum, Copper, Graphite, Composite Materials and Other Materials), Battery Type, Vehicle Type, Application and By Geography


According to Stratistics MRC, the Global Battery Cooling Plate Market is accounted for $732.7 million in 2024 and is expected to reach $4677.5 million by 2030 growing at a CAGR of 36.2% during the forecast period. A battery cooling plate is a critical component in thermal management systems for lithium-ion batteries, particularly in electric vehicles and energy storage applications. It's a thin, flat device typically made of highly conductive materials like aluminum or copper, designed to efficiently remove heat from battery cells. The plate contains internal channels or passages for coolant circulation, maintaining optimal battery temperature during charging and discharging. By regulating temperature uniformity and preventing overheating, cooling plates enhance battery performance, extend lifespan, improve safety, and enable faster charging capabilities in high-performance battery systems.

According to EV volumes, battery electric vehicle (BEV) sales grew by 59% year-over-year in 2022, reaching approximately 8 million units. Plug-in hybrid electric vehicle (PHEV) sales grew by 46% to reach around 2.6 million units.

Market Dynamics:

Driver:

Increasing demand for electric vehicles

The growing adoption of electric vehicles (EVs) is a primary driver for the battery cooling plate market. As EV production and sales surge globally, the demand for efficient battery thermal management systems increases. Battery cooling plates play a crucial role in maintaining optimal operating temperatures for EV batteries, enhancing their performance, longevity, and safety. The push for longer driving ranges and faster charging capabilities in EVs further emphasizes the need for advanced cooling solutions. This trend is expected to continue, driving substantial growth in the battery cooling plate market.

Restraint:

High initial costs

Developing and manufacturing sophisticated cooling plates, especially those using liquid cooling technology, requires substantial investment in research, materials, and production processes. These costs are often passed on to end-users, potentially limiting adoption, particularly in price-sensitive markets or for smaller electric vehicle manufacturers. The challenge lies in balancing performance improvements with cost-effectiveness to make battery cooling plates more accessible across various vehicle segments and markets.

Opportunity:

Growing industrialization and urbanization

As cities expand and industrial activities increase, there's a growing demand for electric vehicles, energy storage systems, and other applications requiring efficient battery management. This urbanization drives the need for sustainable transportation solutions, where battery cooling plates play a crucial role. Additionally, industrial applications of large-scale batteries in renewable energy systems and grid stabilization create new avenues for cooling plate technologies, expanding the market beyond automotive applications.

Threat:

Fluctuations in economic conditions

Economic downturns can lead to reduced consumer spending on electric vehicles and decreased investments in renewable energy projects. Fluctuations in raw material prices, particularly for specialized materials used in high-performance cooling plates, can impact manufacturing costs and profit margins. Economic uncertainties may also slow down research and development efforts, potentially hindering innovation in cooling plate technologies.

Covid-19 Impact

The COVID-19 pandemic initially disrupted the battery cooling plate market due to supply chain interruptions and manufacturing slowdowns. However, the crisis also accelerated the shift towards electric vehicles and renewable energy, boosting long-term demand for battery cooling plates. The pandemic highlighted the importance of supply chain resilience and localized production, potentially reshaping the market landscape. Post-pandemic recovery efforts focusing on green technologies are expected to further drive market growth.

The liquid cooling segment is expected to be the largest during the forecast period

The liquid cooling segment is projected to account for the largest market share during the projection period. Liquid cooling systems offer superior thermal management capabilities compared to air cooling, making them ideal for high-performance electric vehicles and energy storage applications. This technology allows for more efficient heat dissipation, enabling faster charging rates and improved battery longevity. As electric vehicles with larger battery packs and higher power outputs become more prevalent, the demand for liquid cooling plates is expected to surge. The segment's growth is further driven by advancements in coolant formulations and plate designs, enhancing overall system efficiency.

The commercial vehicles segment is expected to have the highest CAGR during the forecast period

The commercial vehicles segment is projected to have the highest CAGR during the extrapolated period. This rapid growth is attributed to the increasing electrification of commercial fleets, including delivery vans, buses, and trucks. Commercial electric vehicles often require more robust battery cooling solutions due to their higher utilization rates, heavier loads, and demand for fast charging capabilities. As businesses and municipalities increasingly adopt electric commercial vehicles to meet sustainability goals and reduce operating costs, the demand for advanced battery cooling plates in this segment is set to accelerate.

Region with largest share:

During the projected timeframe, the Asia Pacific region is expected to hold the largest market share. This dominance is primarily due to the region's leadership in electric vehicle production and adoption, particularly in countries like China, Japan, and South Korea. The presence of major battery manufacturers and automotive OEMs in the region drives significant demand for battery cooling plates. Additionally, government initiatives promoting electric vehicle adoption and investments in charging infrastructure further boost market growth. The region's robust supply chain for battery components and cooling technologies also contributes to its market leadership.

Region with highest CAGR:

The Asia Pacific region is predicted to witness the lucrative growth rate throughout the forecast period. This rapid growth is fueled by aggressive electric vehicle adoption targets set by countries in the region, coupled with substantial investments in battery technology and manufacturing capabilities. The expansion of domestic EV markets in countries like India and Southeast Asian nations is expected to create new opportunities for battery cooling plate manufacturers. Furthermore, the region's focus on developing next-generation battery technologies and thermal management solutions is likely to drive innovation in cooling plate design, further accelerating market growth in Asia Pacific.

Key players in the market

Some of the key players in Battery Cooling Plate Market include BorgWarner Inc., Sogefi Group, Dana Limited, MAHLE GmbH, Modine Manufacturing Company, Nippon Light Metals, Priatherm, SANHUA Automotive, Bespoke Composite Panels, Estra Automotive, HELLA GmbH & Co. KGaA, KOHSAN Co., Ltd., Nisshinbo Holdings Inc., LG Chem, Panasonic Corporation, Samsung SDI, CATL, and BYD.

Key Developments:

In August 2024, Modine, a diversified global company recognized for its thermal management technology and solutions, recently announced the release of its new EVsantage electric compressor and valve product lines, specifically designed to meet the demanding operational needs of heavy-duty electric vehicles.

In February 2023, BorgWarner announced it will supply a major German vehicle manufacturer in Europe and the U.S. with innovative battery cooling plates for their next-generation electric vehicles. The plates are designed to provide cooling capacity in a more compact package with reduced weight and cost.

Cooling Methods Covered:
• Air Cooling
• Liquid Cooling
• Phase Change Material (PCM) Cooling
• Immersion Cooling

Material Types Covered:
• Aluminum
• Copper
• Graphite
• Composite Materials
• Other Material Types

Battery Types Covered:
• Lithium-Ion Batteries
• Solid-State Batteries
• Lead-Acid Batteries
• Nickel-Metal Hydride Batteries
• Other Battery Types

Vehicle Types Covered:
• Passenger Vehicles
• Commercial Vehicles

Applications Covered:
• Electric Vehicles (EVs)
• Energy Storage Systems (ESS)
• Portable Electronics
• Industrial Applications
• Aerospace and Defense
• Marine
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
Market share assessments for the regional and country-level segments
Strategic recommendations for the new entrants
Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
Strategic recommendations in key business segments based on the market estimations
Competitive landscaping mapping the key common trends
Company profiling with detailed strategies, financials, and recent developments
Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Battery Cooling Plate Market, By Cooling Method
5.1 Introduction
5.2 Air Cooling
5.3 Liquid Cooling
5.3.1 Direct Liquid Cooling
5.3.2 Indirect Liquid Cooling
5.3.2.1 Heat Pipes
5.3.2.2 Cold Plates
5.3.2.3 Other Techniques
5.4 Phase Change Material (PCM) Cooling
5.5 Immersion Cooling
6 Global Battery Cooling Plate Market, By Material Type
6.1 Introduction
6.2 Aluminum
6.3 Copper
6.4 Graphite
6.5 Composite Materials
6.6 Other Material Types
7 Global Battery Cooling Plate Market, By Battery Type
7.1 Introduction
7.2 Lithium-Ion Batteries
7.3 Solid-State Batteries
7.4 Lead-Acid Batteries
7.5 Nickel-Metal Hydride Batteries
7.6 Other Battery Types
8 Global Battery Cooling Plate Market, By Vehicle Type
8.1 Introduction
8.2 Passenger Vehicles
8.3 Commercial Vehicles
8.3.1 Light Commercial Vehicles
8.3.2 Heavy Commercial Vehicles
9 Global Battery Cooling Plate Market, By Application
9.1 Introduction
9.2 Electric Vehicles (EVs)
9.2.1 Battery Electric Vehicles (BEVs)
9.2.2 Plug-in Hybrid Electric Vehicles (PHEVs)
9.2.3 Hybrid Electric Vehicles (HEVs)
9.3 Energy Storage Systems (ESS)
9.4 Portable Electronics
9.5 Industrial Applications
9.6 Aerospace and Defense
9.7 Marine
9.8 Other Applications
10 Global Battery Cooling Plate Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 BorgWarner Inc.
12.2 Sogefi Group
12.3 Dana Limited
12.4 MAHLE GmbH
12.5 Modine Manufacturing Company
12.6 Nippon Light Metals
12.7 Priatherm
12.8 SANHUA Automotive
12.9 Bespoke Composite Panels
12.10 Estra Automotive
12.11 HELLA GmbH & Co. KGaA
12.12 KOHSAN Co., Ltd.
12.13 Nisshinbo Holdings Inc.
12.14 LG Chem
12.15 Panasonic Corporation
12.16 Samsung SDI
12.17 CATL
12.18 BYD
List of Tables
Table 1 Global Battery Cooling Plate Market Outlook, By Region (2022-2030) ($MN)
Table 2 Global Battery Cooling Plate Market Outlook, By Cooling Method (2022-2030) ($MN)
Table 3 Global Battery Cooling Plate Market Outlook, By Air Cooling (2022-2030) ($MN)
Table 4 Global Battery Cooling Plate Market Outlook, By Liquid Cooling (2022-2030) ($MN)
Table 5 Global Battery Cooling Plate Market Outlook, By Direct Liquid Cooling (2022-2030) ($MN)
Table 6 Global Battery Cooling Plate Market Outlook, By Indirect Liquid Cooling (2022-2030) ($MN)
Table 7 Global Battery Cooling Plate Market Outlook, By Phase Change Material (PCM) Cooling (2022-2030) ($MN)
Table 8 Global Battery Cooling Plate Market Outlook, By Immersion Cooling (2022-2030) ($MN)
Table 9 Global Battery Cooling Plate Market Outlook, By Material Type (2022-2030) ($MN)
Table 10 Global Battery Cooling Plate Market Outlook, By Aluminum (2022-2030) ($MN)
Table 11 Global Battery Cooling Plate Market Outlook, By Copper (2022-2030) ($MN)
Table 12 Global Battery Cooling Plate Market Outlook, By Graphite (2022-2030) ($MN)
Table 13 Global Battery Cooling Plate Market Outlook, By Composite Materials (2022-2030) ($MN)
Table 14 Global Battery Cooling Plate Market Outlook, By Other Material Types (2022-2030) ($MN)
Table 15 Global Battery Cooling Plate Market Outlook, By Battery Type (2022-2030) ($MN)
Table 16 Global Battery Cooling Plate Market Outlook, By Lithium-Ion Batteries (2022-2030) ($MN)
Table 17 Global Battery Cooling Plate Market Outlook, By Solid-State Batteries (2022-2030) ($MN)
Table 18 Global Battery Cooling Plate Market Outlook, By Lead-Acid Batteries (2022-2030) ($MN)
Table 19 Global Battery Cooling Plate Market Outlook, By Nickel-Metal Hydride Batteries (2022-2030) ($MN)
Table 20 Global Battery Cooling Plate Market Outlook, By Other Battery Types (2022-2030) ($MN)
Table 21 Global Battery Cooling Plate Market Outlook, By Vehicle Type (2022-2030) ($MN)
Table 22 Global Battery Cooling Plate Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
Table 23 Global Battery Cooling Plate Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
Table 24 Global Battery Cooling Plate Market Outlook, By Light Commercial Vehicles (2022-2030) ($MN)
Table 25 Global Battery Cooling Plate Market Outlook, By Heavy Commercial Vehicles (2022-2030) ($MN)
Table 26 Global Battery Cooling Plate Market Outlook, By Application (2022-2030) ($MN)
Table 27 Global Battery Cooling Plate Market Outlook, By Electric Vehicles (EVs) (2022-2030) ($MN)
Table 28 Global Battery Cooling Plate Market Outlook, By Battery Electric Vehicles (BEVs) (2022-2030) ($MN)
Table 29 Global Battery Cooling Plate Market Outlook, By Plug-in Hybrid Electric Vehicles (PHEVs) (2022-2030) ($MN)
Table 30 Global Battery Cooling Plate Market Outlook, By Hybrid Electric Vehicles (HEVs) (2022-2030) ($MN)
Table 31 Global Battery Cooling Plate Market Outlook, By Energy Storage Systems (ESS) (2022-2030) ($MN)
Table 32 Global Battery Cooling Plate Market Outlook, By Portable Electronics (2022-2030) ($MN)
Table 33 Global Battery Cooling Plate Market Outlook, By Industrial Applications (2022-2030) ($MN)
Table 34 Global Battery Cooling Plate Market Outlook, By Aerospace and Defense (2022-2030) ($MN)
Table 35 Global Battery Cooling Plate Market Outlook, By Marine (2022-2030) ($MN)
Table 36 Global Battery Cooling Plate Market Outlook, By Other Applications (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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